The prospect of a bruising shareholder revolt at Burberry has intensified with just a day to go before the luxury retailer’s annual meeting on Friday.

Almost one in three voting shareholders could oppose a bumper pay and bonus package for Christopher Bailey, Burberry’s new chief executive, according to some reports yesterday.

One of several shareholders who talked to The Times this week said that Burberry had developed an unhealthy “culture” of largesse over executive pay. One leading institutional investor said a report that between 25 per cent and 30 per cent of shareholders planned to veto Burberry’s remuneration report sounded